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Speaking at a 2000-strong rally in Newcastle on Saturday night, Mr Corbyn took aim at club owners “who put their business interests ahead of everything else, marginalise supporters and even put the financial security of clubs at risk.”

Mr Corbyn went on to accuse Ashley, who is very unpopular among the Toon Army, of being a ‘bad owner’.

His comments came at a time when thousands of Magpies fans, Sunday’s 1-0 Premier League win over Manchester United aside, are staying away from games in protest at the way the Sports Direct magnate is running the club.

Newcastle said in a statement: “We are disappointed by comments made by Labour leader Jeremy Corbyn at the weekend regarding football governance and club ownership, in which he specifically attacked Newcastle United.

“In overlooking existing governance and regulation, as well as the hugely positive impact Newcastle United and other professional clubs have in their communities, Mr Corbyn has demonstrated a surprising lack of knowledge about our national game.

“We feel, therefore, it is important to address his damaging and misinformed opinions in the interests of the club and its supporters.

“Financially, other than sums provided to the club on a short-term, interest-free basis and repaid to him as intended, we would like to make it clear that Mike Ashley has not taken a penny out of Newcastle United in interest, salary or dividend, as is customary at many clubs.

“As stated on numerous occasions before, every penny Newcastle United has will continue to be available to it.

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“In this financial year, the club will use an overdraft facility to manage its cash-flow following a significant spend on talent in the summer. As a well-run, responsible club, that amount will be repaid in full and on time and our other regulatory obligations will be met.

“We will not apologise for being financially sustainable, but we will push the boundaries of our budgets as far as possible to maximise the impact on the team.”

Mr Corbyn also said a football club was “more than just a club, it is an institution at the heart of our communities’, a sentiment with which the Magpies’ hierarchy agrees.

The statement added: “Often, Newcastle United Foundation’s projects fill in significant gaps that the public sector sadly cannot stretch to, particularly at a time when government cuts are so prevalent.